Pakistan's interior adviser Rehman Malik, right, and the foreign minister Shah Mehmood Qureshi attend a meeting of the national security conference in Islamabad on Dec 2 2008.
Pakistan's interior adviser Rehman Malik, right, and the foreign minister Shah Mehmood Qureshi attend a meeting of the national security conference in Islamabad on Dec 2 2008.
Pakistan's interior adviser Rehman Malik, right, and the foreign minister Shah Mehmood Qureshi attend a meeting of the national security conference in Islamabad on Dec 2 2008.
Pakistan's interior adviser Rehman Malik, right, and the foreign minister Shah Mehmood Qureshi attend a meeting of the national security conference in Islamabad on Dec 2 2008.

Pakistan offers joint investigation


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The Pakistan foreign minister Shah Mehmood Qureshi today said his country has offered a joint team to help India investigate the Mumbai attacks. "The government of Pakistan has offered a joint investigation mechanism, and we are ready to compose such a team which will help the investigation," he said in a televised statement. Mr Qureshi said that his government "wanted to get to the bottom of" the investigation and was ready to extend all possible co-operation and assistance. The minister, speaking in Urdu, said both governments needed to show "maturity, seriousness and patience" amid rising tensions between the nuclear-armed rivals after suspected Pakistani militants killed 188 people in the Mumbai attacks. However Pakistan's top diplomat dodged Indian demands to hand over 20 suspected militants said to be living on its soil, including the founder of the militant group Lashkar-e-Taiba, which has been named as prime suspect for the attacks. "I have offered this (co-operation) to my Indian counterpart Pranab Mukherjee and to the Indian government in response of the demarche. We have sent this reply that Pakistan is ready to extend all kind of co-operation and assistance." India has already demanded Pakistan take "strong action" against those responsible for the attacks, and the US has pressured Islamabad to co-operate. The moves come as the government faces widespread accusations of security and intelligence failures after militants carried out a three-day attack across India's financial capital, killing 172 people and wounding 239. The 10 gunmen had trained for months in camps operated by a banned Pakistani militant group before slipping into Mumbai from the sea, the only known surviving attacker told police. India's foreign intelligence agency received information as recently as September that Pakistan-based militants were plotting attacks against Mumbai targets, according to a government intelligence official familiar with the matter. The information was then relayed to domestic security officials, the official said, speaking on condition of anonymity because the person was not authorised to talk publicly about the details. The prime minister Manmohan Singh, who has promised to strengthen maritime and air security and look into creating a new federal investigative agency, met today with top security aides to review any government lapses. Among the prisoners sought by India is Dawood Ibrahim - a powerful gangster, the alleged mastermind of 1993 Mumbai bombings, and India's most-wanted man. Also included is Masood Azhar, a terror suspect freed from an Indian prison in exchange for the release of hostages aboard an Indian Airlines aircraft hijacked on Christmas Day 1999. "We will await the response from Pakistan," Mukherjee said. In Mumbai, from the FBI and Britain's Scotland Yard met with top Indian police as they prepared to help collect evidence, a police official said. Yesterday, soldiers removed the remaining bodies from the shattered Taj Mahal hotel, where the standoff finally ended on Saturday morning. The army had already cleared other siege sites, including the five-star Oberoi hotel and the Mumbai headquarters of an ultra-Orthodox Jewish group. India's financial hub has returned to normal to some degree, with parents dropping their children off at school and shopkeepers opening for the first time since the attacks, which Indian authorities blamed on the banned Pakistani militant group Lashkar-e-Taiba. While the cross-border rhetoric between Pakistan and India has increased since the attacks, both countries - by their often-antagonistic standards - carefully refrained from making statements that could quickly lead to a build-up of troops along their heavily militarised frontier. In India, Pakistan's high commissioner to the country met with foreign ministry officials and was told that "elements from Pakistan" had carried out the attacks, said ministry spokesman Vishnu Prakash. His phrasing, though, carefully avoided blaming the Pakistani government. The commissioner was told that India "expects that strong action would be taken against those elements", Mr Prakash said. US Secretary of State Condoleezza Rice, who will visit India later this week, said the perpetrators of attacks "must be brought to justice". Pakistan has repeatedly insisted it was not behind the attacks. The Pakistani president Asif Ali Zardari said yesterday the gunmen were "non-state actors," and warned against letting their actions lead to greater regional enmity. "Such a tragic incident must bring opportunity rather than the defeat of a nation," Mr Zardari told Arj television. "We don't think the world's great nations and countries can be held hostage by non-state actors." The sole surviving attacker, Ajmal Qasab, told police his group trained over about six months in camps operated by Lashkar in Pakistan, learning close-combat techniques, hostage-taking, handling of explosives, satellite navigation, and high-seas survival skills, according to two Indian security officials familiar with the investigation. They spoke on condition of anonymity because they were not authorised to speak publicly about the details. Lashkar was banned in Pakistan under pressure from the US in 2002, a year after Washington and Britain listed it as a terrorist group. Mr Qasab told investigators the militants hijacked an Indian vessel and killed three crew members, keeping the captain alive long enough to guide them into Mumbai, the two security officials said. The men, ages 18 to 28, then came ashore in a dinghy at two different Mumbai areas before slipping into the city in two teams, officials said. The gunmen struck at several sites, including a train station, where they mowed down police and passersby; the Jewish centre; and the two luxury hotels, representing the city's wealth and tourism, reportedly seeking out Westerners. The 19 foreigners killed were Americans, Germans, Canadians, Israelis and nationals from Britain, Italy, Mexico, Japan, China, Thailand, Australia, Singapore and Mexico. * AP and AFP

F1 drivers' standings

1. Lewis Hamilton, Mercedes 281

2. Sebastian Vettel, Ferrari 247

3. Valtteri Bottas, Mercedes 222

4. Daniel Ricciardo, Red Bull 177

5. Kimi Raikkonen, Ferrari 138

6. Max Verstappen, Red Bull 93

7. Sergio Perez, Force India 86

8. Esteban Ocon, Force India 56

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

'The Sky is Everywhere'

Director:Josephine Decker

Stars:Grace Kaufman, Pico Alexander, Jacques Colimon

Rating:2/5

TOUCH RULES

Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.

Teams can make as many substitutions as they want during the 40 minute matches.

Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.

A touch is any contact between the player with the ball and a defender, and must be with minimum force.

After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.

At the roll-ball, the defenders have to retreat a minimum of five metres.

A touchdown is scored when an attacking player places the ball on or over the score-line.

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German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

The Lowdown

Us

Director: Jordan Peele

Starring: Lupita Nyong'o, Winston Duke, Shahadi Wright Joseqph, Evan Alex and Elisabeth Moss

Rating: 4/5

Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding

Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.

Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.

Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.

For more details, email openminds@cultures.ae or visit www.cultures.ae

 

'Ashkal'
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Disturbing%20facts%20and%20figures
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The%20specs
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TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2041mm%2C%20352%20x%20430%3B%2045mm%2C%20396%20x%20484%3B%20Retina%20LTPO%20OLED%2C%20up%20to%201000%20nits%2C%20always-on%3B%20Ion-X%20glass%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20S8%2C%20W3%20wireless%2C%20U1%20ultra-wideband%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%2032GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%201GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20watchOS%209%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EHealth%20metrics%3A%3C%2Fstrong%3E%203rd-gen%20heart%20rate%20sensor%2C%20temperature%20sensing%2C%20ECG%2C%20blood%20oxygen%2C%20workouts%2C%20fall%2Fcrash%20detection%3B%20emergency%20SOS%2C%20international%20emergency%20calling%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20GPS%2FGPS%20%2B%20cellular%3B%20Wi-Fi%2C%20LTE%2C%20Bluetooth%205.3%2C%20NFC%20(Apple%20Pay)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDurability%3A%3C%2Fstrong%3E%20IP6X%2C%20water%20resistant%20up%20to%2050m%2C%20dust%20resistant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%20308mAh%20Li-ion%2C%20up%20to%2018h%2C%20wireless%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECards%3A%3C%2Fstrong%3E%20eSIM%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFinishes%3A%3C%2Fstrong%3E%20Aluminium%20%E2%80%93%20midnight%2C%20Product%20Red%2C%20silver%2C%20starlight%3B%20stainless%20steel%20%E2%80%93%20gold%2C%20graphite%2C%20silver%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20Watch%20Series%208%2C%20magnetic-to-USB-C%20charging%20cable%2C%20band%2Floop%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Starts%20at%20Dh1%2C599%20(41mm)%20%2F%20Dh1%2C999%20(45mm)%3C%2Fp%3E%0A
NBA Finals so far

(Toronto lead 3-1 in best-of-seven series_

Game 1 Raptors 118 Warriors 109

Game 2 Raptors 104 Warriors 109

Game 3 Warriors 109 Raptors 123

Game 4 Warriors 92 Raptors 105